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Strategy Indicator - Percent winning trades for a trading rule

Trading Indicator: Strategy Indicator - Percent winning trades for a trading rule
Created by: bug man on June 23, 2010.
The coding of this trading indicator required 43 lines of code.
The indicator name is 'SIndicator_PP' and it is coded using JScript.
It requires 5 arguments. The different parameters are:
rule (Type: Number - Default Value: rsi(14) > 50): Rule to test
nbars (Type: Number - Default Value: 10): NBars stop
threshold (Type: Number - Default Value: 1): Threshold
nbtrades (Type: Number - Default Value: 6): Minimum number of trades
lookback (Type: Number - Default Value: 0): Lookback period

p = SIndicator_PP(rsi(14) > 50, 10, 1, 6, 0);

Formula to draw the trading indicator on a chart:
Plot(SIndicator_PP(rsi(14) > 50, 10, 1, 6, 0), "Strategy Indicator - Percent winning trades for a trading rule", colorRed);

Future and Past Bars:
The function has no look-ahead bias. It uses no previous bars.

Click on this link to download Strategy Indicator - Percent winning trades for a trading rule

Search terms used to find this trading item include strategy indicator, percentage of winning trades, strat indicator, indicator strategy, percent winning trades

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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.